Raleigh New Homes Blog

Up to $8,000 for first-time buyers who qualify

Up to $6,500 for existing homeowners who qualify

The newly expanded Federal Tax Credit program makes now  a great time to buy a new home. Standard Pacific Homes is  ready to help you take advantage of this exciting new  opportunity.

Now, you may qualify whether you’re buying for the first time, or have owned a home for at least five of the past eight consecutive years.

• You must sign a purchase agreement prior to April 30, 2010, and must close before July 1, 2010.
• The income limit is $125,000 for single filers and $225,000 for joint filers.
• Available for the purchase of a principal residence with a purchase price of $800,000 or less.
• Tax credit does not have to be repaid as long as your home remains your principal residence for three years.
• Can be claimed on a 2009 or 2010 tax return.
• Tax credit for first-time homebuyers: Qualifying taxpayers can claim up to 10% of the purchase price. The maximum credit is $8,000, or $4,000 for married individuals filing separately.
• Tax credit for existing homebuyers: Qualifying taxpayers can claim up to 10% of the purchase price. The maximum credit is $6,500 if your previous home was a principal residence for five of the past eight years.

Visit our Raleigh-area neighborhoods today! Consult your tax professional for complete tax credit details. For a general summar, visit federalhousingtaxcredit.com.

Tags: durham new homes, federal tax credit, homebuyer tax credit, raleigh new homes, Standard Pacific Homes

This entry was posted on Wednesday, November 11th, 2009 at 11:40 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.